GA Insurance has introduced Kenya’s first comprehensive electric vehicle (EV) insurance coverage as the adoption of eco-friendly transportation solutions gains pace.
Sales of EVs increased by 108% in the fiscal year 2022–2024, reflecting the country's recent increase in EV adoption.
By 2025, the state hopes to have 5% of all registered EVs nationwide.
With its debut, purchasers whose vehicles had previously been discovered on Kenyan roads are given a reprieve.
GA Insurance Kenya Ltd. CEO Sandip Bhadury noted that the GA Eco Drive Cover is a specialized insurance policy specifically targeted to cover unique risks faced by the E-Mobility segment and its business models.
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“The traditional motor insurance policies cannot cater for the emerging risks and needs faced by this segment, as they were developed to cover motor vehicles propelled by internal combustion engines,” Bhadury said.
The insurance will cover various things, including a battery, charging cables, personal charging stations, autonomous driving, injuries, and damage from charging cables.
According to GA, impartial specialists rigorously evaluated the products before their launch.
Additionally, the item supports the state's Nationally Determined Contribution (NDC) goal of a 32 percent reduction in greenhouse gas emissions by 2030.
“This is in resonance with UNEP FI Principles for Sustainable Insurance and UN Sustainable Development Goals which will lead to further dialogue and conversation with the various key stakeholders.”
